It's a half-baked product, esp with regard to avionics.
The avionics on their own are really, really good, they even have good software. The issue is sensor fusion. They have chosen to develop a less capable version compared to the Americans in order to deploy the jet faster. They are following India's timeline for the same, so it will eventually get it.
Basically, everything on the Su-57 is good. It's high performance, it's VLO, it has avionics that are more than a match for Western equivalents and so on. The airframe is 70% composites by surface area. Even with engine, the 117 has already caught up with Western engines, and the new AL-51 exceeds the current lot by a significant margin. Only NGAP will deliver a superior engine this decade.
And it's really cheap. $35-40M per jet flyaway. The fact that it's already got an export customer shows the jet is now ready.
So if the IAF is looking for a 5th gen stopgap, it can compete very well with the F-35A.
If we are to go for it, it's gonna need GaN though. That's about the only drawback.
Sukhoi is desperate for sales and is hoping India would bail them out. In the 1990s, they developed MKI with Indian money and feedback, opening the door for sales to Malaysia, Algeria and others.
The RuAF bought their Su-30SM/SM2 variant much later. Same playbook, different timelines. Only difference is China will never buy a notional Su-57MKK. They can cherry-pick whatever they need, esp. engine tech. The Russians will bend over backwards to oblige them.
That was the case earlier, their modernization budget today is multiple times bigger than India's. The Germans were very recently complaining about that.
But it's a given that they need an export partner to share costs, especially under the current sanctions regime.
Their SoEs have too much debt though.
Heck, Chinese components could well end up in the Su-57 because of Western sanctions. That's another reason why I think Su-57 may not be the best option for India.
There's no real danger of that. Even the Russians stay away from such things.